AltaGas Ltd. (TSE:ALA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of AltaGas Ltd. (TSE:ALA) have earned an average rating of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is C$38.10.

A number of equities analysts have issued reports on the stock. National Bankshares lifted their price objective on shares of AltaGas from C$36.00 to C$39.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Scotiabank lifted their target price on AltaGas from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. BMO Capital Markets lifted their target price on AltaGas from C$37.00 to C$40.00 in a research note on Thursday, September 5th. JPMorgan Chase & Co. cut AltaGas from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from C$36.00 to C$37.00 in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada boosted their price objective on AltaGas from C$37.00 to C$40.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd.

AltaGas Price Performance

ALA opened at C$34.83 on Friday. The company has a debt-to-equity ratio of 115.50, a current ratio of 0.85 and a quick ratio of 0.44. The company has a market capitalization of C$10.36 billion, a price-to-earnings ratio of 24.02, a P/E/G ratio of -4.97 and a beta of 1.23. The firm’s fifty day moving average price is C$34.03 and its two-hundred day moving average price is C$32.59. AltaGas has a 1 year low of C$26.87 and a 1 year high of C$35.77.

AltaGas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.298 dividend. This represents a $1.19 annualized dividend and a yield of 3.42%. The ex-dividend date is Monday, December 16th. AltaGas’s dividend payout ratio is currently 82.07%.

Insiders Place Their Bets

In other AltaGas news, Senior Officer Randy Warren Toone sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of C$35.32, for a total value of C$105,960.00. Also, Senior Officer Vernon Dai-Chung Yu acquired 7,600 shares of the stock in a transaction on Monday, November 4th. The stock was bought at an average price of C$33.12 per share, with a total value of C$251,719.60. 0.58% of the stock is owned by insiders.

AltaGas Company Profile

AltaGas Ltd. operates as an energy infrastructure company in North America. The company operates through Utilities and Midstream segments. The Utilities segment owns and operates franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities in Maryland, Virginia, Delaware, Pennsylvania, Ohio, and the District of Columbia serving approximately 1.6 million customers.